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B&M Bargains attracts US attention

A group of major US private equity houses are leading the race for fast-growing North West discount retailer B&M Bargains, according to reports.

The Liverpool-based group, owned by three Cheshire brothers Simon, Bobby and Robin Arora, is on the market for as much as £850m. The process is being led by investment bank Rothschild.

According to The Times, the parties through to second round of bidding are Blackstone, BC Partners, KKR - the owner of Handfordth-based Pets at Home, Bain Capital and Clayton Dubilier & Rice.

The Aroras acquired B&M in 2004 when it had 19 shops and by picking up stores from collapsed retailers such as Woolworths it now has 290 stores.

The Speke-based business made profits of £38m profit last year on sales of more than £713m. It now employs more than 9,000 people and the success of its model is down to not only to consumers seeking low prices, but its savvy stock buying.

It is thought the Arora family wish to stay involved in the business after the deal is completed.

Source : Chris Barry – TheBusinessDesk.com
www.thebusinessdesk.com/northwest/news/394718-pe-firms-hungry-for-b-amp-m-deal.html

12 November 2012
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